NEWS RELEASE: In order to address the financial impact of COVID-19, Roanoke College announced cost-cutting measures to employees today. Beginning July 1, 2020, the College will reduce spending by approximately $6 million dollars.
Roanoke College’s budget cuts will include suspension of contribution to employee retirement plans and a reduction of salaries, operating expenses and workforce. Many positions that are already open, as well as 14 currently filled staff positions will be permanently eliminated.
“The current devastating health and economic crisis require us to take these actions,” said President Michael Maxey. “We are making the sacrifices necessary now to ensure our long-term viability and ability to provide a high quality experience to every one of our students,” Maxey said. “These are difficult decisions to make.”
“We work hard to build an inclusive culture at Roanoke College and to have to say goodbye to some of our employees is heart wrenching for all of us,” Maxey said.
“Before today, Roanoke College’s most recent reduction in force occurred in the early 1990’s. The fact that business conditions have come to this now, saddens us deeply. We are working to ensure that those Roanoke College employees whose roles have been cut receive as much help and financial support as possible,” said Kathy Martin, Director of Human Resources, Roanoke College.